“To assure shareholders that the stewardship of the organization was effectively carried out.”

What does this definition describe?

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Refer to the Exhibit.

Transactions are often categorized between capital and revenue

Which of the following combinations are correct?

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The record of how the profit or loss of a company has been allocated to distributions and reserves is found in the:

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Company X is a private limited oil company.

Which of the following are relevant for Company X’s integrated report?

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The draft accounts of KenDoo Ltd for the year ended 31 August 2006 showed a net profit of $10000.

During the audit, the following errors and omissions were discovered.

(a) Items valued at $3100 had been completely omitted from the closing stock figure.

(b) Accrual of electricity bill for $200 and insurance prepayment of $500 had been omitted.

(c) Equipment costing $12000, acquired on 1 September 2005, had been debited to the purchases acccount. (KenDoo Ltd depreciates equipment at 15% on the straight line basis).

Due to materiality, the directors of KenDoo Ltd agreed to adjust the accounts accordingly.

Incorporating the above adjustments, the revised net profit is

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ABC has the following summary of transactions for the quarter ended 30 June 20X9 ABC is registered for sales tax at 20%.

At the beginning of the quarter ABC owed $2,300 to the local tax authority.

What is the balance owing to the local tax authority at 30 June 20X97 Give your answer to the nearest dollar.

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Refer to the exhibit.

The following is an extract from the trial balance of a business for its most recent year:

Net profit before tax has already been calculated as being £27m. Income tax of £5m is to be provided, and a final dividend of 30p per share is declared.

Using some or all of the figures above, the correct figure of retained profit for the year is

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Refer to the exhibit.

A company has the following current assets and liabilities at its most recent year end:

When measured against standard acceptable levels for liquidity, the company can be said to have:

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The Framework is described as a conceptual framework when used in the creation of new accounting standards.

Which ONE of the following describes the approach of the Framework?

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GH has the following transactions for the week of January 20X8:

GH is not registered for sales tax

What is the total of the sales day book for this week? Give your answer to the nearest whole number:

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